LINDE INDIA

Muted growth

Linde India (formerly known as BOC India) is an industrial gases manufacturer, based in India since 1935. The company also manufactures cryogenic and non-cryogenic vessels and also designs and commissions projects.

The company posted a very disappointing set of numbers for Q2CY17 (Jan-Dec year ending). It ended the quarter with a net loss of Rs.2 crore v/s net profit of Rs.1 crore in Q1. Though total revenue rose 14% (YoY) at Rs.535 crore, the increase in costs and exceptional expense of Rs.5 crore did it in.

The gases business grew by 13%, driven by an increase in demand in the steel and automotive segments. The engineering business registered a modest growth of 60%. EBIT was at Rs.46 crore of which the Gases business contributed Rs.34 crore and project engineering business contributed Rs.11 crore.